Regulatory Alerts2021-12-25 | 31/13Added
General Principles of Responsible Lending
The document establishes general principles for responsible lending governing relationships between commercial banks, microcredit organizations, and individual borrowers regarding consumer loans and microloans. It mandates that lenders provide complete, transparent, and understandable information about loan terms, fees, and risks before contract signing, and requires a thorough assessment of borrowers' repayment capacity to prevent over-indebtedness. The rules further prohibit aggressive collection practices, ensure the confidentiality of personal data, and outline specific obligations for lenders regarding insurance, dispute resolution, and the treatment of borrowers facing financial difficulties.